A review of Venture Capital investment trends across Europe and Israel in 1Q17. Breakdowns by country, sector, stage, business model, and target market.
Today, I’m happy to release a data-driven review of VC investment trends in Europe and Israel in 2016. I’ve tried to put some new and useful data points into the deck, so let me know what you think of the new stuff. And please let me know what else you think I should be tracking and showing in the deck next time.
Some key highlights:
Overall, investment volume was up in 4Q, but still below 2Q’s record high
Total VC investment volume into Europe and Israel in 2016 was $14.5B, up from $12.1B in 2015, and increase of 20%
There were six mega-deals (over $100M) in 4Q, and 15 in total in 2016
Excluding the megadeals, investment volume declined in 4Q, the second quarterly decline in a row
Israel saw more VC investment activity than any other country in Europe with $3.9B in 2016. The UK and Germany were next with $3.0B and $2.3B, respectively
US VCs invested in around 11% of European/Israeli venture rounds. Israel, the UK, and Germany led in terms of US VC participation
Fintech was the most frequently funded vertical, with 178 investments. Marketing was second with 109
The categories that showed the most growth in frequency from 2015 to 2016 were Imagining (+400%), Agtech (+475%), and Automotive (+1100%)
You’ll find all that and more in the 61-page report
Europe & Israel 3Q17 Venture Capital ReviewGil Dibner
Today, I’m happy to release a data-driven review of VC investment trends in Europe and Israel in the third quarter of 2017.
Some key highlights:
Overall, dealflow volume continues to hit new highs
Total VC investment volume into Europe and Israel was $5.5B in 3Q17 and $5.8B in 2Q17 (a record)
The number of deals peaked in 1Q17 at over 500 and has been trending gently downward, but still at very high levels.
Deal size is trending up again
In the past two quarters, there were 13 mega-deals (over $100M)
There is still zero evidence that Brexit has impacted the UK venture environment. Both deal numbers and investment volumes are up since the Brexit vote
In both 3Q and 2Q, the UK led the region in investment volume. Israel was in second place
France continues to boom, with 4 quarters of consecutive growth in investment volume
After six quarters of consecutive growth, Swedish VC investment volume declined in 3Q
Fintech was the yet again most frequently funded vertical, with 48 investments in 3Q. Marketing was second (31) and Electronics tied with Lifestyle for third (26)
The categories that showed the most growth in frequency from 3Q16 to 3Q17 were Entertainment (+171%), Health (+133%), and Employment/HR (+111%)
The categories that showed the most decrease in frequency from 3Q16 to 3Q17 were industrial (-50%), communication (-46%), and Fashion and Adtech (both down 43%).
You’ll find all that and more in the 52-page report, so download it here or view it on Slideshare below. I’d recommend also taking a look at the more detailed 2016 year in review report, which can be found here.
As always, I welcome your comments, questions, and feedback. Please let me know if there are additional slices of data you think I should add into the report.
Europe & Israel - VC Investment Trends 2015-2018 - Angular VenturesGil Dibner
A data-driven look at venture capital investment trends across Europe and Israel. By Angular Ventures, a specialist seed-stage enterprise tech VC firm investing across the region.
Today, I’m happy to release a data-driven review of VC investment trends in Europe and Israel in 2016. I’ve tried to put some new and useful data points into the deck, so let me know what you think of the new stuff. And please let me know what else you think I should be tracking and showing in the deck next time.
Some key highlights:
Overall, investment volume was up in 4Q, but still below 2Q’s record high
Total VC investment volume into Europe and Israel in 2016 was $14.5B, up from $12.1B in 2015, and increase of 20%
There were six mega-deals (over $100M) in 4Q, and 15 in total in 2016
Excluding the megadeals, investment volume declined in 4Q, the second quarterly decline in a row
Israel saw more VC investment activity than any other country in Europe with $3.9B in 2016. The UK and Germany were next with $3.0B and $2.3B, respectively
US VCs invested in around 11% of European/Israeli venture rounds. Israel, the UK, and Germany led in terms of US VC participation
Fintech was the most frequently funded vertical, with 178 investments. Marketing was second with 109
The categories that showed the most growth in frequency from 2015 to 2016 were Imagining (+400%), Agtech (+475%), and Automotive (+1100%)
You’ll find all that and more in the 61-page report
Europe & Israel 3Q17 Venture Capital ReviewGil Dibner
Today, I’m happy to release a data-driven review of VC investment trends in Europe and Israel in the third quarter of 2017.
Some key highlights:
Overall, dealflow volume continues to hit new highs
Total VC investment volume into Europe and Israel was $5.5B in 3Q17 and $5.8B in 2Q17 (a record)
The number of deals peaked in 1Q17 at over 500 and has been trending gently downward, but still at very high levels.
Deal size is trending up again
In the past two quarters, there were 13 mega-deals (over $100M)
There is still zero evidence that Brexit has impacted the UK venture environment. Both deal numbers and investment volumes are up since the Brexit vote
In both 3Q and 2Q, the UK led the region in investment volume. Israel was in second place
France continues to boom, with 4 quarters of consecutive growth in investment volume
After six quarters of consecutive growth, Swedish VC investment volume declined in 3Q
Fintech was the yet again most frequently funded vertical, with 48 investments in 3Q. Marketing was second (31) and Electronics tied with Lifestyle for third (26)
The categories that showed the most growth in frequency from 3Q16 to 3Q17 were Entertainment (+171%), Health (+133%), and Employment/HR (+111%)
The categories that showed the most decrease in frequency from 3Q16 to 3Q17 were industrial (-50%), communication (-46%), and Fashion and Adtech (both down 43%).
You’ll find all that and more in the 52-page report, so download it here or view it on Slideshare below. I’d recommend also taking a look at the more detailed 2016 year in review report, which can be found here.
As always, I welcome your comments, questions, and feedback. Please let me know if there are additional slices of data you think I should add into the report.
Europe & Israel - VC Investment Trends 2015-2018 - Angular VenturesGil Dibner
A data-driven look at venture capital investment trends across Europe and Israel. By Angular Ventures, a specialist seed-stage enterprise tech VC firm investing across the region.
In an effort to support the community of early-stage founders, Angular Ventures surveyed 128 founders in Europe, Israel, and the United States.
We asked them how the Coronavirus has impacted their businesses and how they are responding.
This report is the result of that work.
Details the rise, fall and rise of the venture capital industry in the USA, the consequent implications on the environment Asia finds itself in, with the opportunity presenting itself.
Synchronised vs desynchronised global growth by Mark LovettStanlb2018
Mark, the newly appointed Head of Investments, discusses the major factors impacting global bond and equities markets around the world and what this means for portfolio asset allocation.
0507 057 01 98 * Adana Klima Montaj Servisleri, Adana Klima Montaj Servisi, Adana Klima Montaj Servisleri, Arçelik Klima Montaj Servisi Adana, Beko Klima Montaj Servisi Adana, Demirdöküm Klima Montaj Servisi Adana, Vestel Klima Montaj Servisi Adana, Aeg Klima Montaj Servisi Adana, Bosch Klima Montaj Servisi Adana, Ariston Klima Montaj Servisi Adana, Samsung Klima Montaj Servisi Adana, Siemens Klima Montaj Servisi Adana, Profilo Klima Montaj Servisi Adana, Fujitsu Klima Montaj Servisi Adana, Baymak Klima Montaj Servisi Adana, Sharp Klima Montaj Servisi Adana, Mitsubishi Klima Montaj Servisi Adana, Alaska Klima Montaj Servisi Adana, Aura Klima Montaj Servisi Adana, Adana Çukurova Klima Montaj Servisleri, Adana Yüreğir Klima Montaj Servisleri
A look at the Venture Capital industry heading into 2020. Some have questioned whether the industry has a future. This deck does a detailed look at where the industry is and why the future of VC still looks bright.
...how quickly venture backed
technology companies market capitalization changed (grew) and whether there had
been a change in the “Time To Market Cap” during different periods of history. November 2014
Startup Capital Ventures Venture Capital Climate for Q3 2010 shows an imbalance between inflows and investments despite an excellent IPO and M&A environment and strong VC returns.
In Bessemer’s 2018 State of the Cloud, leading SaaS and cloud investors Byron Deeter, Kristina Shen, and Anna Khan explain the ups-and-downs of the cloud market, a new valuation framework for startups, and emerging predictions for 2018.
In this report, you’ll also learn:
- Cloud market trends and factors that led to a 4x growth in venture funding
- A framework for valuation across Series A and B financing
Bessemer’s annual recurring revenue to growth multiple (ARRG)
- Eight new predictions for 2018
In an effort to support the community of early-stage founders, Angular Ventures surveyed 128 founders in Europe, Israel, and the United States.
We asked them how the Coronavirus has impacted their businesses and how they are responding.
This report is the result of that work.
Details the rise, fall and rise of the venture capital industry in the USA, the consequent implications on the environment Asia finds itself in, with the opportunity presenting itself.
Synchronised vs desynchronised global growth by Mark LovettStanlb2018
Mark, the newly appointed Head of Investments, discusses the major factors impacting global bond and equities markets around the world and what this means for portfolio asset allocation.
0507 057 01 98 * Adana Klima Montaj Servisleri, Adana Klima Montaj Servisi, Adana Klima Montaj Servisleri, Arçelik Klima Montaj Servisi Adana, Beko Klima Montaj Servisi Adana, Demirdöküm Klima Montaj Servisi Adana, Vestel Klima Montaj Servisi Adana, Aeg Klima Montaj Servisi Adana, Bosch Klima Montaj Servisi Adana, Ariston Klima Montaj Servisi Adana, Samsung Klima Montaj Servisi Adana, Siemens Klima Montaj Servisi Adana, Profilo Klima Montaj Servisi Adana, Fujitsu Klima Montaj Servisi Adana, Baymak Klima Montaj Servisi Adana, Sharp Klima Montaj Servisi Adana, Mitsubishi Klima Montaj Servisi Adana, Alaska Klima Montaj Servisi Adana, Aura Klima Montaj Servisi Adana, Adana Çukurova Klima Montaj Servisleri, Adana Yüreğir Klima Montaj Servisleri
A look at the Venture Capital industry heading into 2020. Some have questioned whether the industry has a future. This deck does a detailed look at where the industry is and why the future of VC still looks bright.
...how quickly venture backed
technology companies market capitalization changed (grew) and whether there had
been a change in the “Time To Market Cap” during different periods of history. November 2014
Startup Capital Ventures Venture Capital Climate for Q3 2010 shows an imbalance between inflows and investments despite an excellent IPO and M&A environment and strong VC returns.
In Bessemer’s 2018 State of the Cloud, leading SaaS and cloud investors Byron Deeter, Kristina Shen, and Anna Khan explain the ups-and-downs of the cloud market, a new valuation framework for startups, and emerging predictions for 2018.
In this report, you’ll also learn:
- Cloud market trends and factors that led to a 4x growth in venture funding
- A framework for valuation across Series A and B financing
Bessemer’s annual recurring revenue to growth multiple (ARRG)
- Eight new predictions for 2018
The investment potential of growth capital and the digital economyAxon Partners Group
Growth capital is becoming a key area of investment, especially in the digital media sector. Axon Partners Group investigates its potential for high returns in comparisons to areas like Venture Capital and real estate, and highlights case studies that have hit the headlines in recent years.
Dealroom - Q3 2018 investment update for Europe & IsraelElad Ratson
Dealroom.co provides an investment update for Europe & Israel, including major investments, exits, industry trends, country comparisons and much more. In the third quarter of 2018, €6.1 billion was invested, including four rounds valued $1 billion or more.
State Of European FinTech: Current Trends & Prediction 2017Innovate Finance
A report by Magister Advisors and Innovate Finance shows that capital invested into $20 million + rounds have increased at a compound annual growth rate of 75% since 2013.
White Star Capital Canadian Venture Capital Landscape 2019White Star Capital
In this third edition of our report, we aim to reiterate our enthusiasm for the Canadian Tech and Venture Capital ecosystem as well as touch upon a few new topics.
In addition to sharing our excitement about Canada and expressing our belief that the ecosystem is stronger than ever, we examine larger round dynamics, the continuation of the VCCI program, the rise of narwhals, and funding activity by state and region. We have also explored one of Canada's key strengths: its diversity and increased immigration influx. Finally, we end with an updated deep dive on VCs and other investors.
White Star Capital - Canadian Venture Capital Landscape 2018Sanjay Zimmermann
In this second edition of our report, we aim to reiterate our enthusiasm for the Canadian Tech and Venture Capital ecosystem as well as touch upon a few additional topics.
In addition to sharing our excitement about Canada and expressing our belief that the ecosystem is stronger than ever, we look at a few new topics. We examine a few subsectors, larger round dynamics, VCCI and regional programs. We are also pleased to further explore one of Canada's key strengths: it's diversity and talent. Finally, we end with an updated deep dive on VC's and other investors making up the space.
Jean-Baptiste Dumont During the 15th century, Chinese civilization was probablyyousuf raza
Jean-Baptiste Dumont THE ARTIFICIAL INTELLIGENCE RUSH
During the 15th century, Chinese civilization was probably the most advanced in the world. By 1433, the Chinese admiral Zheng He had already sailed from China to India, Indonesia, and even Africa on caravels twice as large as those Christopher Columbus used 59 years later for his fateful journey. China could have been the country to discover America. Instead, its government surprisingly decided to put an end to its naval activities and burn its entire fleet of ships, indirectly allowing Spain to conquer America and bring prosperity to Europe. It took more than 5 centuries for China to recover from this political decision. What could make such an advanced country deliberately turn away from its future? Officially, Chinese elites decided to cease naval exploration for budgetary reasons. But in reality, they burned their fleet of 317 ships because of the new wealth and power bestowed upon a rising class of merchants, seeing this change as a threat to their internal stability (and likely to their sovereignty).
2020 has been a challenging year. Yet, amidst the various trials, widespread digital transformation has sparked several triumphs in SaaS. For instance, UiPath made history this summer when they became the first European Cloud Decacorn. Now we’re 10 months in, the question on everyone’s lips is what’s just happened and what’s coming next? In this keynote presentation, Philippe Botteri, Partner and Varun Purandare, VP at Accel will present original findings from Accel’s 2020 Euroscape. They'll explore the biggest trends in SaaS, deep dive into COVID's impacts on the ecosystem and share the region’s top 100 cloud companies.
Innovate Finance’s 2017 VC FinTech investment landscape provides investors, startups and the wider FinTech ecosystem the data to understand trends and capital flows as the FinTech market evolves. Overall figures suggest that the UK has had its best year on record and was a global leader in terms of capital invested and deal volume, second only to the US.
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Slack (or Teams) Automation for Bonterra Impact Management (fka Social Soluti...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on the notifications, alerts, and approval requests using Slack for Bonterra Impact Management. The solutions covered in this webinar can also be deployed for Microsoft Teams.
Interested in deploying notification automations for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Key Trends Shaping the Future of Infrastructure.pdfCheryl Hung
Keynote at DIGIT West Expo, Glasgow on 29 May 2024.
Cheryl Hung, ochery.com
Sr Director, Infrastructure Ecosystem, Arm.
The key trends across hardware, cloud and open-source; exploring how these areas are likely to mature and develop over the short and long-term, and then considering how organisations can position themselves to adapt and thrive.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
Kubernetes & AI - Beauty and the Beast !?! @KCD Istanbul 2024Tobias Schneck
As AI technology is pushing into IT I was wondering myself, as an “infrastructure container kubernetes guy”, how get this fancy AI technology get managed from an infrastructure operational view? Is it possible to apply our lovely cloud native principals as well? What benefit’s both technologies could bring to each other?
Let me take this questions and provide you a short journey through existing deployment models and use cases for AI software. On practical examples, we discuss what cloud/on-premise strategy we may need for applying it to our own infrastructure to get it to work from an enterprise perspective. I want to give an overview about infrastructure requirements and technologies, what could be beneficial or limiting your AI use cases in an enterprise environment. An interactive Demo will give you some insides, what approaches I got already working for real.
GDG Cloud Southlake #33: Boule & Rebala: Effective AppSec in SDLC using Deplo...James Anderson
Effective Application Security in Software Delivery lifecycle using Deployment Firewall and DBOM
The modern software delivery process (or the CI/CD process) includes many tools, distributed teams, open-source code, and cloud platforms. Constant focus on speed to release software to market, along with the traditional slow and manual security checks has caused gaps in continuous security as an important piece in the software supply chain. Today organizations feel more susceptible to external and internal cyber threats due to the vast attack surface in their applications supply chain and the lack of end-to-end governance and risk management.
The software team must secure its software delivery process to avoid vulnerability and security breaches. This needs to be achieved with existing tool chains and without extensive rework of the delivery processes. This talk will present strategies and techniques for providing visibility into the true risk of the existing vulnerabilities, preventing the introduction of security issues in the software, resolving vulnerabilities in production environments quickly, and capturing the deployment bill of materials (DBOM).
Speakers:
Bob Boule
Robert Boule is a technology enthusiast with PASSION for technology and making things work along with a knack for helping others understand how things work. He comes with around 20 years of solution engineering experience in application security, software continuous delivery, and SaaS platforms. He is known for his dynamic presentations in CI/CD and application security integrated in software delivery lifecycle.
Gopinath Rebala
Gopinath Rebala is the CTO of OpsMx, where he has overall responsibility for the machine learning and data processing architectures for Secure Software Delivery. Gopi also has a strong connection with our customers, leading design and architecture for strategic implementations. Gopi is a frequent speaker and well-known leader in continuous delivery and integrating security into software delivery.
DevOps and Testing slides at DASA ConnectKari Kakkonen
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State of ICS and IoT Cyber Threat Landscape Report 2024 previewPrayukth K V
The IoT and OT threat landscape report has been prepared by the Threat Research Team at Sectrio using data from Sectrio, cyber threat intelligence farming facilities spread across over 85 cities around the world. In addition, Sectrio also runs AI-based advanced threat and payload engagement facilities that serve as sinks to attract and engage sophisticated threat actors, and newer malware including new variants and latent threats that are at an earlier stage of development.
The latest edition of the OT/ICS and IoT security Threat Landscape Report 2024 also covers:
State of global ICS asset and network exposure
Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
Rise in volumes of AI-powered cyberattacks
Major cyber events in 2024
Malware and malicious payload trends
Cyberattack types and targets
Vulnerability exploit attempts on CVEs
Attacks on counties – USA
Expansion of bot farms – how, where, and why
In-depth analysis of the cyber threat landscape across North America, South America, Europe, APAC, and the Middle East
Why are attacks on smart factories rising?
Cyber risk predictions
Axis of attacks – Europe
Systemic attacks in the Middle East
Download the full report from here:
https://sectrio.com/resources/ot-threat-landscape-reports/sectrio-releases-ot-ics-and-iot-security-threat-landscape-report-2024/
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
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GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Leading Change strategies and insights for effective change management pdf 1.pdf
Europe & Israel 1Q17 Venture Capital Review
1. Venture Capital in Europe & Israel
Venture Investment Data: First Quarter 2017
Prepared by Gil Dibner
Berlin, view along the Spree River towards the Bode Museum (opened as the Kaiser-Friedrich-Museum in 1904)
and the Fernsehturm television tower (368M, completed in 1969).
blog
2. The data
• The data in this report consists entirely of data I’ve gathered manually based on
publicly available, free sources
• No paid data sources or API calls were harmed in the making of this dataset, every
investment was manually classified
• This allows analysis of some aspects of the data I consider important – aspects that
don’t appear in other data sources. More importantly, it allows me to exclude
deals that are really not “venture capital” rounds but tend to get included by
others
• Seed investment is under-reported and adds a lot of noise to the data set, so I
exclude deals under $500K
• The analysis is limited to ICT categories and excludes life sciences
• The analysis excludes Turkey and FSU countries
• All currencies converted into USD using monthly average exchange rates
Prepared by Gil Dibner follow me on (@gdibner), connect with me on , subscribe to my , or invest with me onblog 2
3. Top 10 deals by region in Q1 2017 (US $M)
France & Benelux IsraelIberia
UK & Ireland DACH Nordic
Prepared by Gil Dibner follow me on (@gdibner), connect with me on , subscribe to my , or invest with me onblog 3
15
15
21
24
25
25
26
28
53
100
104
Garrison Technology
Ecrebo
CompareEuropeGroup
Monzo
Evrythng
CurrencyCloud
Upstream
Whistle Sports
Arralis
Funding Circle
Atom Bank
0 50 100 150
16
18
20
22
32
32
53
70
127
165
Ottonova
WayRay
Knime
Book a Tiger
SolarisBank
Raisin
ResearchGate
SoundCloud
Lampenwelt.de
Tricentis
0 50 100 150 200
12
12
12
15
16
17
17
22
26
50
63
Fuse
Qapital
Xeneta
NA-KD
Skeleton Technologies
Pipedrive
Starship Technologies
Soundtrack Your Brand
24 Storage
Collibra
iZettle
0 20 40 60 80
2
2
2
2
2
3
4
5
5
6
11
12
175
Apartum
Mr. Jeff
Subasta de Ocio
Gamelearn
RocketROI
21 Buttons
Hundredrooms
RavenPack
Fever
Odilo
Logtrust
Scytl
LetGo
0 50 100 150 200
16
20
23
27
30
35
35
61
69
105
Databerries
Qwant
Bloomon
Doctolib
Bitfury
Guest2Guest
JobToday
Vestiaire…
Oodrive
Picnic
0 20 40 60 80 100 120
20
20
20
20
20
23
25
25
30
30
40
56
70
75
Healthwatch
Demisto
Samanage
Feedvisor
VATbox
Reduxio
Valens
FreightOS
Exabeam
Autotalks
Transmit Security
Appsflyer
SentinelOne
Kaminario
0 20 40 60 80
4. Top 10 deals by type in Q1 2017 (US $M)
Systems SaaSEnterprise
Consumer Financial Commerce
Prepared by Gil Dibner follow me on (@gdibner), connect with me on , subscribe to my , or invest with me onblog 4
26
27
28
35
61
70
104
105
127
175
24 Storage
Doctolib
Whistle Sports
Guest2Guest
Vestiaire Collective
SoundCloud
Atom Bank
Picnic
Lampenwelt.de
LetGo
0 50 100 150 200
32
35
40
50
53
56
69
70
75
165
Raisin
JobToday
Transmit Security
Collibra
ResearchGate
Appsflyer
Oodrive
SentinelOne
Kaminario
Tricentis
0 50 100 150 200
14
20
22
24
25
30
32
32
100
104
Earnix
VATbox
Creamfinance
Monzo
CurrencyCloud
Bitfury
SolarisBank
Raisin
Funding Circle
Atom Bank
0 20 40 60 80 100 120
10
12
13
15
16
17
20
53
63
75
Arktis
Famoco
Usound
EasyMile
Skeleton Technologies
Starship Technologies
Healthwatch
Arralis
iZettle
Kaminario
0 20 40 60 80
8
9
11
11
15
21
23
61
105
127
Blue Bay Travel
Restoflash
Campanda
Mycs
NA-KD
CompareEuropeGroup
Bloomon
Vestiaire Collective
Picnic
Lampenwelt.de
0 50 100 150
20
20
20
22
25
25
26
35
50
69
165
Demisto
Knime
Samanage
Soundtrack Your Brand
Evrythng
CurrencyCloud
Upstream
JobToday
Collibra
Oodrive
Tricentis
0 50 100 150 200
5. Quarterly pace of venture investment
• In 1Q17, Europe & Israel saw
$4.0 billion flowing into 521
venture transactions
• 1Q17 was a record-breaking
quarter in terms of the
number of venture deals
• 1Q17 was the second-highest
quarter in terms of amount
invested
• These numbers, and the rest
of this deck, do not reflect
the $1B in debt raised by
Spotify in March
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2,873
3,139
3,252
2,857
3,730
4,114
3,122
3,522
4,018
0
100
200
300
400
500
600
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
Amountinvested(US$M)
VC Investments in Europe & Israel
Invested amount (US $M) Number of investments
6. Monthly pace of venture investment
• Looked at on a monthly
basis, the strong first quarter
was driven by a strong
January and March
• January was very strong, on
par with the previous year –
this likely reflects pent up
activity from 4Q getting
announced publicly in 1Q
• Monthly deal volume
throughout the quarter was
near the historical ceiling of
approximately 180 deals per
month across the geography
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905
971
997
791
787
1,561
1,518
571
1,164
1,084
1,059
715
1,657
1,051
1,021
1,401
1,452
1,261
725
1,101
1,296
1,457
1,170
895
1,640
944
1,434
0
20
40
60
80
100
120
140
160
180
200
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
Amountinvested(US$M)
VC Investments in Europe & Israel
(January 2015 - March 2017)
Invested amount (US $M) Number of investments
7. Mega-rounds skew the investment totals
• This analysis breaks down VC
investments into brackets by
size:
• Seed (less than $2M)
• Early venture ($2-8M)
• Venture ($8-20M)
• Growth ($20-100M)
• Mega ($100M+)
• Six mega-rounds took place in
Europe in 1Q17
• Letgo (Spain, $175M)
• Tricentis (Austria, $165M)
• Lampenwelt (Germany, $127M)
• Picnic (Netherlands, $105M)
• Atom Bank (IUK, $104M)
• Funding Circle (UK, $100M)
• Adjusting for mega-rounds,
1Q17 was a record quarter at
$3.24B, just edging out 2Q16
($3.21B)
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510 602 635 592 709 751
559
730 695 752 651
911
1,187
1,650 1,679
1,336 1,197
1,366
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
AmountInvested(US$M)
Pace of VC Investment in Europe and Israel
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8) Seed (.5-2)
8. Strong year-over-year growth
• All size brackets except
growth saw YoY increases in
1Q17 compared to 1Q16
• Seed deal volume increase by
21%, early venture and
venture both increased by
25%, and mega-deal volume
increased by 36%
• Growth venture volume
decreased by 17%
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177 215
602 751
730
911
1,650
1,366
571
776
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Qtr1 Qtr1
2016 2017
TotalVCinvestment(US$M)
VC investmentvolume in Europe and Israel by bracket
(1Q17 vs 1Q16)
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8) Seed (<2)
9. Number of investments, by bracket
• Excluding seed deals, the
total number of VC
investments per quarter was
314 in 1Q17, a new record
level since I started tracking
this data
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77 85 94
140 153 157 144
182 19342
62 44
46
61 57
64
53
76
33
26 38
35
44 52
40
35
39
6
6 4
3
4 4
1
6
6
0
50
100
150
200
250
300
350
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
NumberofVCinvestments
VC investmentvolume in Europe and Israel by bracket
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8)
10. No impact of Brexit on deal volume, but…
• Looking just at UK VC deal
volume, there’s so far no
evidence that Brexit caused
any slowdown whatsoever in
VC activity
• There were an average of 15 VC
deals per month in the 18
months before the referendum
• There were an average of 20 VC
deals per month since the
referendum
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0
5
10
15
20
25
30
35
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
NumberofVCinvestments
VC investmentvolume in the UK by bracket
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8)
Pre-
Brexit
avg = 15
Post-Brexit
avg = 20
11. Total invested capital per quarter is down since Brexit
• Looking just at total invested
capital in the UK, there does
appear to be an impact since
the Brexit referendum
• An average of $819M per
quarter was invested in the UK
in the 18 months before the
referendum
• An average of $648M per
quarter was invested in the UK
since the referendum
• VC investment volume in the
UK is down 21% per quarter
since the Brexit referendum
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74 70 98 79 136 108 133 150 188
165 166 96 128
172
148
181 113
160
459
180
405
209
532
273 202
191
149
210
150
275
478
192
110
275
204
0
200
400
600
800
1,000
1,200
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
NumberofVCinvestments
VC investmentvolume in the UK by bracket
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8)
Pre-Brexit
avg = $819M
Post-Brexit
avg = $648M
12. Corporate VC activity, by bracket
• Excluding seed deals, the
total number of corporate VC
investments rose to 54 in
1Q17 compared to 44 in 4Q16
• Corporate VC investments
are trending towards later
stage
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6 4 5
16
7
22 19
23
19
27 24
4
3
9
12
7
12
6
16
19 5
17
4
4
7
8
7
7
20
18
6
9
11
3
1
3
3
3
2
0
10
20
30
40
50
60
70
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
NumberofVCinvestments
CorporateVC investmentvolume in Europe and Israel by bracket
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8)
13. Corporate VC activity, by country
• During 1Q17, Israel saw the
highest number of corporate
VC investments, with 18
• The UK saw 12 corporate VC
investments during the
quarter
• Germany and France took the
third and fourth spots, with 7
and 4, respectively
• Corporate investors
participated in two mega-
rounds in the geography in
the quarter
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8
5 4
2
5
4
3
2
5
2
2
0
2
4
6
8
10
12
14
16
18
20
Israel
UK
Germany
France
Netherlands
Sweden
Ireland
Poland
Finland
Switzerland
Estonia
Italy
Numberofinvestments
Number of corporate VC investments in Europeand Israel by bracket
(1Q17)
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8)
14. Average round size
• This average excludes seed
rounds and mega rounds, so
it reflects all rounds done in
Europe & Israel between $2M
and $100M
• With very few exceptions,
most months saw average
round sizes of $10-12M and
there is seems to be little
pattern other than mean
reversion
• 3Q15 is the only systematic
outlier to this trend, with
average round sizes of $12-
15M throughout the quarter
• As the six-month trailing
average shows, average
round sizes are drifting
downward
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4
6
8
10
12
14
16
18
20
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
AmountInvested(US$M)
Average investmentsize in Europe and Israel
(Round sizes of 2-100M, and 6-month trailingaverage)
15. Total venture investment by country, 1Q 2017
• Israel saw the most VC
investment in 1Q17, with
$802M raised
• The UK came in second
place, with $740M raised
• Germany saw the third-
highest amount of venture
investment, with $562M
• France was a close fourth,
with $550M
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802
740
562
550
247
235
189
182
104
91
79
50
42
35
33
25
25
13
12
2
2
Israel
UK
Germany
France
Spain
Sweden
Netherlands
Austria
Ireland
Denmark
Switzerland
Estonia
Luxembourg
Belgium
Poland
Italy
Finland
Norway
Cyprus
Czech
Iceland
Total VC investmentvolumeby country, 1Q17 (US $M)
16. Vive la Frenchtech!
Total venture investment by country, 1Q15 to 1Q17
• To get a better sense of VC
volumes in various countries,
this analysis excludes mega-
rounds
• With this filter, volumes and
rankings are more consistent
• For the first time, France
came in second, leapfrogging
ahead of the UK and
Germany in one quarter
• Sweden’s steady rise (five
quarters of uninterrupted
growth) is also worthy of note
• The UK and Germany seem
to have levelled out over the
past year
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543
475
628
699
963
1,064
877
490
802
719
437
625 444
871
553 544
487 536
389
209
379
342 335
429
460
473
435
118
232 279
224 279
367
339 443
550
89 112
140
84
139 151
198
224 235
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
0
200
400
600
800
1000
1200
TotalVCinvestment(US$M)
TotalVC investment,1Q15 - 1Q17 (top 5 countries, excluding mega-rounds)
Israel
UK
Germany
France
Sweden
17. Total venture investment by country, 3Q14 to 4Q16
• To get a better sense of VC
volumes in various countries,
this analysis excludes mega-
rounds
• The “second five” countries
for VC investment in 2016
were Spain, Ireland, the
Netherlands, Finland, and
Denmark
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Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
0
20
40
60
80
100
120
140
TotalVCinvestment(US$M)
TotalVC investment,1Q15 - 1Q17
(countries ranked 6-10, excluding mega-rounds)
Spain Ireland
Netherlands Finland
Denmark
18. Average venture round sizes, by region
• For a while, I had been seeing
a trend towards convergence
in the sizes of rounds across
the geography
• Into 2017, this trend seems to
be holding
• Most regions saw average
round sizes flat or slightly
down
• Average deal size in Israel is
increasing
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Benelux,4.7
Benelux,10.8
DACH, 14.9
DACH, 11.4
France, 8.2 France, 8.1
Iberia,7.2
Iberia,4.6
Israel,15.9
Israel,15.2
Nordic,11.5
Nordic,9.9UK & Ireland,8.5
UK & Ireland,7.8
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
18.0
Qtr4 Qtr4 Qtr1
2014 2015 2017
Averageroundsize(US$M)
Average investmentsize in Europe and Israel (rounds of $2-100M)
19. Total venture investment by region
• When VC investments across
Europe are aggregated into
regions, UK & Ireland, DACH,
Israel, DACH, and the Nordics
are the clear and consistent
leaders
• Benelux, Iberia, Southern
Europe, and Eastern Europe
do produce meaningful VC
investments, but the volumes
are still low
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UK & Ireland,844
DACH, 822
Israel,802
France, 550
Nordic,415
Benelux,266
Iberia,247
South.Eur., 37
East.Eur., 35
TotalVC investmentby region, 1Q17
20. Rounds by bracket & region
• To get a better sense of deal
volume, this analysis excludes
seed deals which are often
poorly reported
• Excluding seed deals, the UK
and Ireland saw 79 venture
deals in the fourth quarter
• Israel took third place with 52
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52
45
20 24 25
8 11
4 4
18
10
18
15 9
3
7
4
14
6
4
3
0
10
20
30
40
50
60
70
80
90
UK &
Ireland
France Israel DACH Nordic Benelux Iberia East. Eur. South. Eur.
Numberofinvestments
Number of investments in Europe and Israel by bracket, 1Q 2017
Mega (>100) Growth (20-100) Venture (8-20) Early Venture (2-8)
21. Participation rate of US VC firms, by bracket
• In the first quarter, US VCs
participated in 8% of the VC
financing rounds in EU and
Israel
• As usual, US VCs are much
more likely to participate in
later rounds
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2%
5%
20%
31% 33%
98% 95%
80%
69% 67%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Seed (.5-2) Early Venture (2-8) Venture (8-20) Growth (20-100) Mega (>100)
Percentageofrounds
Did US VC firms participatein EuropeanVC rounds? (1Q17)
No Yes
22. US VC firm participation rate drops in 4Q
• In 1Q17 and 4Q16, US VCs
participated in about 12% of
the rounds that took place in
Europe
• This rate is the lowest since
I’ve been tracking the data
• This analysis excludes seed
and mega-rounds
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15%
23%
17% 20% 20% 16% 16%
21% 21%
12% 12%
85%
77%
83% 80% 80% 84% 84%
79% 79%
88% 88%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
PercentageofRounds
Did US VC firms participatein EuropeanVC rounds?
(3Q14-1Q17)
No Yes
23. Participation of US VC firms by country
• In 1Q17, US VCs firms were
active in 9 different European
countries
• US VC firms were most active
in Israel, where they
participated in 14 investment
rounds
• The UK saw 12 US
investments
• US VCs invested in 6 German
companies
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14
12
6
2 2 2 2 2
1
0
2
4
6
8
10
12
14
16
Israel
UK
Germany
Estonia
Spain
Denmark
France
Ireland
Austria
NumberofVCinvestments
Rounds with a US VC involved
(1Q17)
24. Participation of US VC firms by country
• This chart shows US VC
activity within Europe
• The overwhelming bulk of US
VC activity is generally in
Israel, the UK & Ireland,
DACH
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Israel,12 Israel,14 Israel,14 Israel,14 Israel,16
Israel,27 Israel,25
Israel,12 Israel,14
UK & Ireland,10
UK & Ireland,14
UK & Ireland,10
UK & Ireland,8
UK & Ireland,11
UK & Ireland,11
UK & Ireland,12
UK & Ireland,1
UK & Ireland,14
DACH, 8
DACH, 6
DACH, 4 DACH, 9
DACH, 6
DACH, 9
DACH, 8
DACH, 11
DACH, 7Nordic,2
Nordic,3
Nordic,5
Nordic,5
Nordic,5
Nordic,4
Nordic,6
Nordic,4
Iberia,3
Iberia,4
Iberia,3
Iberia,2
Iberia,2
France, 3
France, 2
France, 2
France, 3 France, 3
France, 2
Benelux,5
Benelux,2 Benelux,3
0
10
20
30
40
50
60
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
NumberofVCinvestments
Investments with US VC participation
Israel UK & Ireland DACH Nordic Iberia France Benelux East. Eur. South. Eur.
25. Dimension Categories Explanation/Example
1. Target market
Consumer, SMB, Enterprise, Government,
Telecom, OEM
What sort of customer does the
company target?
2. Vertical market
Adtech, Communications, Data, Development, Durables,
Education, Electronics, Employment, Energy, Fashion,
Financial, Food, Gaming, Health, HMI, Industrial,
Infrastructure, Lifestyle, Logistics, Marketing, Media,
Productivity, Real Estate, Security, Sports, Storage,
Transportation, Travel, Water
What type of problem does the
company solve?
3. Business model
Commerce, Components, Content,
Marketplace, SaaS, Semiconductors,
Services, Software, Systems,
How does the company make
money? How is value delivered to
customers? What are customers
paying for?
For example: Consumer + Travel + Marketplace
AirBnB has built a travel-related
marketplace for consumers
Three-dimensional approach to sector mapping
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26. • Excluding mega-rounds,
investment activity was flat in
consumer but increased in
enterprise
What target markets are attracting the most VC investment
in Europe & Israel?
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980 850
1,177
931 1,076
1,244 1,097 1,004 1,017
953
804
910
1,110
1,654
1,640
1,269
962
1,636
275
224
270
285
182
150
163 187
219
448
254
0
500
1,000
1,500
2,000
2,500
3,000
3,500
Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2015 2016 2017
TotalVCinvestments(US$M)
European& Israeli venture financing by target market
3Q14 to 1Q17 (excluding mega-rounds, US $M)
Agriculture
Government
Telecom
OEM
SMB
Enterprise
Consumer
27. • When Israel is excluded from
the sample, 46% of all VC
dollars in Europe went to
consumer-oriented
companies
• Enterprise and SMB
categories spiked in 1Q17
Consumer investment leads Europe
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62%
36%
56%
63% 62%
57% 53% 58%
52%
45% 46%
18%
48%
34% 22% 24% 31% 35%
33%
32%
29%
36%
6%
10%
4% 12% 8% 6% 5% 3%
7%
8%
12%5%
4% 2% 4% 5% 6% 5% 8%
10%
5%6% 6%8%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
Europeanventure financing by target market
3Q14 to 1Q17 (excluding Israel, percent of US $M)
Agriculture Government Telecom OEM SMB Enterprise Consumer
28. Breakdown by region & target market
• Regional differences are very
apparent when VC
investment are categorized
by target market
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355 338
56
249
121 144
212
278 336
641 242
163 105
133 88
52
100
74 48
97
0
100
200
300
400
500
600
700
800
900
UK &
Ireland
DACH Israel France Nordic Benelux Iberia South.
Eur.
East. Eur.
Totalamountinvested(US$M)
Investment in Europe and Israel by target market by region
2017 (US $M)
Agriculture Government Telecom OEM SMB Enterprise Consumer
29. Distribution of investment rounds by country
• Across Europe & Israel, 42%
of VC investment rounds
were in consumer companies
in 2016
• Over two-thirds of Israeli
venture investments were
into enterprise companies
• Three quarters of VC
investments in Iberia were
into consumer companies
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74%
69%
46%
42%
42%
42%
28%
16%
19%
25%
38%
26%
36%
42%
48%
69%
12%
21%
13%
8%
4%
6%
10%
8%
7%
4%
11%
7%
12% 4%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Iberia
South. Eur.
France
DACH
Nordic
UK & Ireland
Benelux
Israel
Investment in Europe and Israel by target market by country
1Q17 (Number of investments)
Consumer Enterprise SMB OEM Telecom Government Agriculture
30. Growth rounds by target market
• Enterprise companies
accounted for just over half of
the later-stage market in
Europe & Israel in 1Q17
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56%
37%
46%
56%
43% 39% 38%
43% 44%
34% 36%
25%
41%
46% 25%
38% 50% 50%
50% 44%
32%
51%
6%
7%
5%
9% 12%
3% 6% 5%
12%
7%6% 11%
6%
7% 5% 6% 5% 5%
20%
7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
Investment in Europe and Israel by target market
(Rounds over $20M, number of investments)
Government Telecom OEM SMB Enterprise Consumer
31. • Fintech was the most popular
vertical across Europe &
Israel, with 62 investments in
the category
• Lifestyle (a catchall category
for consumer commerce) was
the second most popular
vertical, with 35
Finance returned to being the top vertical
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5
5
6
6
8
8
9
9
9
11
11
12
12
12
12
12
12
13
13
16
18
19
19
22
24
25
28
30
31
35
62
Productivity
HMI
Industrial
Agtech
Communications
Legal
Real Estate
ERP
Social
CRM
Entertainment
Development
Energy
Travel
Automotive
Gaming
Food
Payments
Logistics
Fashion
Adtech
Education
Data
Health
Security
Electronics
Employment
Marketing
Infrastructure
Lifestyle
Financial
European& Israeli venture financing by target market
1Q17 (top 30 categories, number of investments)
32. • This graph shows the change
in the number of investments
by vertical from 1Q17 to 1Q16
• Lifestyle e-commerce,
fashion, health, infrastructure,
and electronics increased the
most in frequency
• Logistics, CRM, and Industrial
saw the biggest declines
Growth rates by vertical
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Industrial,-65%
CRM, -45%
Logistics,-28%
Development,-14%
Marketing, -9%
Gaming, -8%
Food, -8%
Security,4%
Payments,8%
Energy, 9%
Grand Total, 11%
Financial,19%
Adtech,20%
Data, 27%
Employment,27%
Electronics,32%
Infrastructure, 35%
Health,38%
Fashion,45%
Lifestyle,67%
-80% -60% -40% -20% 0% 20% 40% 60% 80%
Change in the number of venture investments
(1Q17 vs 1Q16, 20 most popular categories)
33. • Finance was once again the
most frequently funded
vertical, but with increased
attention to enterprise and
SMB
• Consumer lifestyle companies
took second place
• Infrastructure jumped to third
place
• Marketing dropped from
third to fourth
Which verticals for which segments?
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Data
Education
Health
Security
Electronics
Employment
Marketing
Infrastructure
Lifestyle
Financial
0 10 20 30 40 50 60 70
European& Israeli venture financing by target market
1Q17 (number of investments, top 10 verticals)
Consumer
Enterprise
SMB
OEM
Telecom
Government
34. • This chart shows the ten most
commonly funded verticals
across Europe & Israel by
quarter
The most popular verticals in the past 2 years
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Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
0
50
100
150
200
250
300
350
European& Israeli venture financing by vertical market
(number of investments, top 10 verticals)
Adtech
Health
Logistics
Electronics
Lifestyle
Employment
Security
Infrastructure
Marketing
Financial
35. • Investors continue to favor
financial, lifestyle, and health
investments
• Education and fashion
bounced back
• Logistics (ride sharing, taxi
hailing, and the like) appears
to be played out
• Food and travel seem to be
in decline
Consumer VC investment trends
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Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
0
20
40
60
80
100
120
140
160
180
European& Israeli venture financing by consumer verticals
(number of investments, top 10 verticals)
Travel
Health
Fashion
Food
Electronics
Logistics
Gaming
Lifestyle
Financial
Education
36. • Security, financial, and
HR/employment-related
technology showing increases
in 1Q17
• CRM and industrial declined
in 1Q17
Enterprise VC investment trends
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Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
0
20
40
60
80
100
120
140
160
180
European& Israeli venture financing by enterprise verticals
(number of investments, top 10 verticals)
CRM
Financial
Industrial
Employment
Development
Data
Infrastructure
Adtech
Security
Marketing
37. • SaaS was the most funded
business model in 1Q17,
representing 27% of all VC
dollars
• Services took 22% of the
venture dollars invested in
Europe & Israel
• Systems – complete physical
products – took fourth place
at 11% of all venture dollars
• Marketplaces – businesses
that serve a price discovery
function – rebounded to 9%
SaaS above all (but keep an eye on systems)
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SaaS, 887, 27%
Services, 721, 22%
Software, 457, 14%
Systems, 364, 11%
Marketplace,
299, 9%
Commerce, 244, 8%
Media,
153, 5%
Semiconductors, 55, 2%
Components, 52, 2%
Materials, 11, 0%
European & Israeli venture financing by target market
1Q17 (in US $M) (excluding mega-rounds)
38. • SaaS and Services remained
the top two business models
by funding volume
• Commerce collapsed from
third place in 4Q16 to sixth
place in 1Q17
• Systems maintained their
fourth place ranking
• Marketplaces rebounded
somewhat
Commerce disappears and systems rise
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0
200
400
600
800
1000
1200
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
European& Israeli venture financing by business model
(top seven, in US $M, excluding mega-rounds)
Services
SaaS
Software
Commerce
Marketplace
Systems
Media
39. • This graph provides a quick
overview of the ten most
commonly funded segments
across the top ten countries
for those segments
• In a nutshell:
• Consumer financial services
(Everywhere, but especially in
the UK)
• UK marketing SaaS
• Israeli enterprise security
software
• French infrastructure SaaS
• French adtech services
• UK enterprise financial SaaS
• French consumer electronics
• And some other stuff….
EU+IL VC Cheat Sheet (1Q17)
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0 5 10 15 20 25 30 35
Consumer Education Services
Consumer Electronics Systems
Enterprise Financial SaaS
Enterprise Adtech Services
Enterprise Infrastructure SaaS
Consumer Fashion Commerce
Enterprise Data SaaS
Consumer Lifestyle Commerce
Enterprise Security Software
Enterprise Marketing SaaS
Consumer Financial Services
Number of VC investments
Investment in Europe & Israel by segment by country
1Q17 (top 10 segments, top 10 countries)
UK France
Israel Sweden
Germany Ireland
Spain Switzerland
Poland Italy
40. Focus on Infrastructure
• 1Q17 saw a dramatic rise in
the number of infrastructure-
oriented investments across
Europe and Israel
• A lot of this had to do with a
spike in activity in France
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0
5
10
15
20
25
30
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
Numnberofinvestments
Infastructure - VC investmentin Europe and Israel
Latvia Iceland Portugal Luxembourg Greece
Denmark Italy Poland Norway Belgium
Ireland Netherlands Finland Switzerland Spain
41. Focus on Fashion
• 1Q17 also saw a spike in the
number of fashion-oriented
investments across Europe
and Israel
• Activity in France, Italy, the
UK, and Sweden was the
main driver here
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0
2
4
6
8
10
12
14
16
18
Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1 Qtr2 Qtr3 Qtr4 Qtr1
2014 2015 2016 2017
Numnberofinvestments
Fashion - VC investment in Europe and Israel
Greece Portugal Denmark Switzerland Lithuania Finland Netherlands
Italy Israel Sweden Spain France Germany UK
42. Based in , I was previously a partner at . Before that, I helped run the
European seed program for . I moved to London after seven years in
during which I worked as a VC with and . I’m originally from .
My VC investments include and .
Angel investments include and many more.
If you found this useful, I hope you’ll subscribe to my blog.
42
Gil Dibner
To invest in the best European & Israeli enterprise startups,
consider backing me on here. Lots of exciting stuff in the
pipeline – and you’ll be in pretty good company.